Hawaiian Electric Industries (NYSE:HE) Upgraded at Zacks Research

Zacks Research upgraded shares of Hawaiian Electric Industries (NYSE:HE) to a hold rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on HE. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price target for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Barclays raised their target price on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.00.

Hawaiian Electric Industries Stock Down 0.6%

Hawaiian Electric Industries stock opened at $16.61 on Monday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 207.56 and a beta of 0.63. The stock has a fifty day simple moving average of $13.68 and a two-hundred day simple moving average of $12.31. Hawaiian Electric Industries has a 12 month low of $9.06 and a 12 month high of $17.38. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79.

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Hawaiian Electric Industries by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock valued at $238,747,000 after acquiring an additional 1,628,307 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in Hawaiian Electric Industries by 6.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after purchasing an additional 1,134,646 shares during the period. Geode Capital Management LLC boosted its holdings in Hawaiian Electric Industries by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock valued at $50,750,000 after purchasing an additional 209,192 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Hawaiian Electric Industries by 1.3% in the 2nd quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock valued at $29,178,000 after buying an additional 34,535 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Hawaiian Electric Industries by 10.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider’s stock valued at $22,762,000 after buying an additional 195,327 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.